Benchmark Raises Hut 8 Price Target For Second Time In A Week
Benchmark Raises Hut 8 Price Target For Second Time In A Week.
The above button links to Coinbase. Yahoo Finance is not a broker-dealer or investment adviser and does not offer securities or cryptocurrencies for sale or facilitate trading. Coinbase pays us for certain activity generated through this link. Prices displayed are informational.
Wall Street brokerage Benchmark remains bullish on Hut 8 (NASDAQ: $HUT) stock.
Benchmark Equity Research raised its price target on Hut 8's shares to $195 U.S. from $165 U.S. previously. The new price target is 80% higher than where HUT stock currently trades.
The new price target is notable as Benchmark analyst Mark Palmer raised his target on Hut 8's stock to $165 U.S. from $85 U.S. a week ago. This is the second price target increase in seven days.
MEXC Reports 7.1 Billion USDT in SpaceX Futures Volume as Q2 Closes the Gap to Wall Street
SBI Group, DigiFT, and Startale Group Advance Tokenized Capital Markets with JPYSC-Powered Settlement and Onchain Dividend Distribution
MEXC Adds Five Ondo Tokenized Stocks Spanning Semiconductors to Power Infrastructure
TokenInsight Q2 2026 Report: TradFi Momentum Lifts MEXC to No. 2 in Commodity Perpetuals
Palmer said he was driven to give the price target another boost following the full commercialization of Hut 8's Beacon Point artificial intelligence (A.I.) data centre in Texas.
Hut 8 announced on July 20 that it had signed a second 15-year, $9.8 billion U.S. lease with the campus' existing tenant, which is an unnamed technology leader.
The agreement doubled the tenant's contracted capacity at Beacon Point to 704 megawatts (MW) and lifted the one-gigawatt data centre campus' contract value to $19.6 billion U.S.
Palmer said the latest deal proves the validity of Hut 8's strategy of securing power and matching sites with tenants before financing construction.
He also pointed to how quickly things have developed, noting that Hut 8 took Beacon Point from first lease to full commercialization in only a few months, praising management's execution.
The Benchmark analyst noted that his latest valuation also includes Hut 8's 10,278 Bitcoin (CRYPTO: $BTC) holdings that are currently worth $680 million U.S.
HUT stock has risen 413% in the last 12 months to trade at $109.85 U.S. per share.
Sinergia Empresarial continuará el seguimiento de esta información sobre benchmark Raises Hut 8 Price Target For Second Time In A Week y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
